Louisville Family Law®

Understanding complex property division in Kentucky

Understanding complex property division in Kentucky

Posted By
Louis P. Winner

Property division after a divorce can be a complex affair no matter how
much property a couple owns. However, this is especially true for couples
with valuable assets and property holdings. In these situations, property
divorce can become particularly contentious.

Per Kentucky law, it is assumed that any property obtained while the couple
was married is marital property, and is thus subject to equitable division
after a divorce. However, there are exceptions to this. Property owned
by just one spouse before the marriage, gifts made to just one spouse
and inheritances made to just one spouse can in some circumstances be
considered separate property. In addition, couples can create either a
prenuptial or a postnuptial agreement that designates a piece of property
as either marital or separate. The burden of proof when it comes to overcoming
the presumption that property obtained during the marriage is marital
lies with the spouse that believes a piece of property should be considered separate.

High asset divorce cases often involve complex pieces of property. Such
property may include closely held family businesses, stock options, retirement
accounts, performance bonuses and multiple real estate properties.

The law firm of Louis P. Winner has helped many couples divide marital
property in their divorce. Our firm understands that it is important to
gain an accurate valuation of each piece of property. It is also important
to uncover hidden assets that may affect the value of the estate. By working
with professionals it is possible to accomplish these goals. Our property
division overview may provide readers with more information about complex
property division in Kentucky.